|Day's Range||0.885 - 0.887|
|52 Week Range||0.8497 - 0.9396|
Investing.com - Three judges on the Scottish High Court ruled that U.K. Prime Minister’s Boris Johnson’s decision to suspend parliament is unlawful. An appeal is expected to be heard in the Supreme Court on Tuesday.
Investing.com - The British pound struggled to hold gains against the U.S. dollar and the euro on Tuesday after the U.K. employment report for July showed solid wage growth and a slight decrease in the unemployment rate. Annual wage growth hit 4% for the first time since 2008 but the currency remains tied to the unfolding drama over Brexit.
Investing.com - The pound tumbled in early morning trading Friday after the high court in London ruled that U.K. Prime Minister Boris Johnson’s move to suspend parliament was legal. The ruling will be appealed to the supreme court, which has already agreed to hear appeals on Sept. 17.
UK PM Johnson is to prorogue (suspend) Parliament next week, only 9 weeks before Brexit is due. The Queen’s Speech will be on 14 October and will outline his “very exciting agenda”. It will also mean very little Parliamentary time for the opponents of a No-Deal Brexit to organize. The first salvo of a volatile new season.
Investing.com - This week all eyes will be on the Federal Reserve as investors wait for fresh insights on how it may respond to growing fears of a recession after the Treasury yield curve inverted. The Fed will hold its annual gathering in Jackson Hole later in the week, where Chairman Jerome Powell is to deliver what will be a closely watched speech Friday. It will publish the minutes of its July meeting on Wednesday.
Global aversion to the risk continues. President Trump easing his policy on the trade war with China did not help much here. Inverted yield curve is doing its job spooking the market participants.
Investing.com -- Risk sentiment returned to the foreign exchange markets early Friday in Europe, with the Swiss franc and yen retreating against the dollar, and the dollar retreating against the pound as a week of turbulent newsflow drew to a comparatively quiet close.
Investing.com - In the coming week investors will continue to monitor trade developments and moves in the Chinese yuan amid ongoing U.S.-China trade war concerns. Economic data from around the world will also be in focus as investors try to gain insights into the health of the global economy and whether central banks will stick to an accommodative monetary policy path.
The rising threat of a no-deal Brexit has made the British Pound the worst performing G10 currency today with the GBPUSD tumbling to levels not seen in 27 months – below 1.2420.
Investing.com -- The dollar rose to a three-week high against the euro in early trading in Europe Friday, after another disappointing set of factory orders in Germany encouraged bets that the European Central Bank will ease policy aggressively at its policy meeting later this month.
ECB president Mario Draghi has long been known as the king of the doves. And, as anyone trading the German DAX (GER30) or EUR crosses would attest, he directed a powerful rebuttal to the growing calls that the bank is out of ammunition to fight a future recession.
There have been arguments that traders have now pre-positioned portfolios, and happy to drift into the menagerie of central bank speakers this week.
Investing.com - The euro was holding steady on Monday after the results of European Union parliamentary elections showed that pro-EU parties held on to two-thirds of seats, limiting the gains of their euro skeptic opponents.
Data on Thursday showed that the labor market is gaining strength, even as the economy slows. Initial claims for unemployment benefits fell for the third-straight week to a seasonally adjusted 211,000, the Labor Department said.
Sterling slumped on Wednesday after reports that U.K. Prime Minister Theresa May could resign as soon as today amid Brexit chaos caused a sell-off of the pound. The U.S. is looking at similar restrictions on other companies, including Chinese video surveillance company Hikvision, according to Bloomberg and the New York Times.
The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips during the previous trading week.